The cost of floating on the ASX has resulted in Myer posted a depressing 74.4% decline in first-half profit.
Profit for the period fell from $83.2 million to $21.3 million. On the other hand, if the IPO expenses are taken out, Myer actually increased profit by 38% and increased revenue by $1.8 billion. Not bad going.
Myer Holdings
ASX Code: MYR
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For more on this news:
- The Age: Myer first-half profit plunges 74%
